Obama's Offshore Oil Drilling Decision Hurts Va. Economy: Bolling

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    Virginia's lieutenant governor called President Barack Obama's decision to cancel proposed oil drilling lease sale off the coast of Virginia a knock to employment in the state, the Washington Business Journal reported.

    “Proceeding with this lease sale would enable our country to achieve a greater degree of energy security, while enabling Virginia to achieve a greater degree of economic security," read a statement from Bill Bolling. "The President’s decision will deprive Virginia of the economic resources and jobs that could be created as a result of offshore energy development, resources that are needed to help address critical needs like transportation; and it will keep our country dependent on foreign nations for large amounts of our energy resources."

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    Bolling said that while there are lessons to be learned from the Gulf of Mexico oil spill, he believes safe offshore oil drilling is possible.

    He will continue exploring the potential for drilling for oil off Virginia's coast.